The headline average value also rose to a 2015 high in October, improving by £47 to £5,654, equivalent to a 0.8% uplift compared to September. Year-on-year values were flat at exactly the same figure as October 2014, with the average van in 2015 being of similar age, but with a mileage down by nearly 2,000 miles at 77K.
Year-on-year table: All vans
|
All vans |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Oct 2014 |
56.08 |
78,885 |
£5,654 |
103.28% |
|
Oct 2015 |
56.18 |
77,059 |
£5,654 |
100.66% |
BCA’s LCV operations director, Duncan Ward, commented, “October was a strong month for LCV sales at BCA with average values peaking for 2015 – demand was strong across the month, with improving sale conversion rates."
He added: “With encouraging noises coming from most business sectors, a reasonably settled economy and relative shortage of good quality stock, both professional buyers and end users are bidding confidently across a range of makes, models and configurations. There has been plenty of competition for LCVs that are in ready-to-retail condition and values for the best examples will outstrip price guide expectations by a considerable margin.”
“As the Christmas season approaches, online retailers will place increasing demands on the parcel delivery and courier sector, and we expect to see plenty of interest for larger panel vans over the next few weeks. The budget van sector is also buoyant, with average values for part-exchange stock reaching record levels in October.”
The fleet and lease sector recorded average values of £6,427 in October, a small increase of just £11 over September but enough to reach the highest point since May. CAP performance rose by a percentage point to 100.13%, although retained value against MRP (Manufacturer Recommended Price) fell slightly to 33.43%. Year-on-year, values were down by £100 (1.5%), with performance against MRP down by more than three percentage points.
Year-on-year table: Fleet & lease vans
|
Fleet/Lease |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
Sale vs MRP |
|
Oct 2014 |
41.47 |
71,575 |
£6,527 |
102.06% | 36.99% |
|
Oct 2015 |
42.78 |
71,629 |
£6,427 |
100.13% | 33.43% |
Average part-exchange LCV values rose for the third month running, up by £84 (2.1%) to £3,926 – the highest monthly value ever recorded for part-exchange vans at BCA. CAP average comparisons improved by one and a half percentage points to 102.5%, while year-on-year values were ahead by £51 (1.3%), although CAP performance declined by more than five percentage points over the year. Notably, BCA found that average mileage has declined by nearly 5,000 miles over the year, with average age dropping by around a month.
Year-on-year table: Part-Ex vans
|
Part-Ex |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Oct 2014 |
82.20 |
94,188 |
£3,875 |
107.87% |
|
Oct 2015 |
81.12 |
89,419 |
£3,926 |
102.52% |
Nearly-new LCV values averaged £14,614 in September – an increase of £462 (3.2%) compared to September and the highest value recorded since March 2014. As always, this has to be taken in the context of the very low volumes reaching the market and the model mix factor, as well as the continuing availability of ‘new shape’ models reaching the used market.
|
Nearly-new |
Avg Age (mnths) |
Avg Mileage |
Avg Value |
Sale vs CAP |
|
Oct 2015 |
8.40 |
9,432 |
£14,614 |
98.69% |